US businessman Joshua Kushner has publicly addressed the controversy surrounding FIFA’s abandoned plan to sell stakes in the World Cup, admitting that his firm would have avoided the deal had they foreseen the intense political fallout. The venture capitalist, brother of Jared Kushner, broke his silence on Monday as European football governing body UEFA moves toward filing a criminal complaint against FIFA President Gianni Infantino.
At the center of the dispute was the FIFA Forward Enterprise (FFE), a proposed $20 billion commercial subsidiary designed to manage the operational and commercial rights of FIFA competitions. Kushner’s firm, Thrive Capital, had spent months working on the project in private and was set to lead the investment process. Reflecting on the collapse of the initiative, Kushner stated, “While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football, and the lengths some would go to.”
FIFA had defended the proposal, claiming it would have generated $4.2 billion to support football in poorer nations, with member associations retaining the right to vote on the matter. However, the plan faced fierce opposition, with UEFA President Aleksander Ceferin labeling it a “shady, opaque backroom deal.” UEFA has since accused Infantino of “criminal mismanagement” and is actively gathering evidence for a potential criminal case in Switzerland, where both organizations are headquartered.
Kushner emphasized that the intent behind FFE was to redistribute capital more equitably among all 211 member countries, aiming to nurture grassroots talent and improve the fan experience. “It was an idea that every Member Association would vote on, not an obligation or determination,” he noted, adding that Thrive Capital has a long history of partnering with various constituents. He further remarked, “Had we known what this would devolve into, we would not have got involved.”
Despite the fallout, Kushner and his firm are not currently accused of any wrongdoing. However, reports indicate that UEFA is seeking permission from a New York judge to subpoena Kushner and Thrive Capital for documents and depositions related to the failed enterprise. While the firm is not expected to be a defendant in the potential criminal proceedings, the legal pressure continues to mount.
Beyond his involvement in football, Kushner remains a prominent figure in sports investment, notably serving as a key investor in the record-breaking $12.5 billion acquisition of the Los Angeles Lakers, one of the NBA’s most storied franchises. The report also notes that and that member associations could have voted to reject it, fIFA said the proposal would have raised $4.2bn to benefit poorer football-playing nations. The report also notes that “Money in football has historically been concentrated amongst a small group of countries,” said Kushner’s statement.
